Vertiv reported first-quarter 2026 net sales of $2.65 billion, up 30% from $2.036 billion a year earlier, as organic growth, acquisitions and currency all contributed to the increase. Organic sales rose 23%, acquisitions added 4%, and foreign exchange added 3%.
Operating profit climbed to $440 million from $291 million in the first quarter of 2025, an increase of 51%. Adjusted operating profit rose 64% to $551 million from $337 million, lifting adjusted operating margin to 20.8% from 16.5%, a gain of 430 basis points.
Earnings per share also improved sharply. Diluted EPS increased 136% year over year, while adjusted diluted EPS rose 83%.
Cash generation strengthened as well. Net cash from operating activities reached $767 million, up 153% from the prior-year quarter, and adjusted free cash flow increased 147% to $653 million. Vertiv ended the quarter with net leverage of about 0.2x and liquidity of $5.0 billion.
By region, the Americas led growth, with organic sales up 44% on stronger data center demand.
For full-year 2026, Vertiv now expects net sales of $13.5 billion to $14.0 billion, implying organic sales growth of 29% to 31% versus 2025. It raised its adjusted diluted EPS outlook to $6.30 to $6.40, and its diluted EPS guidance to $5.60 to $5.70. At the midpoint, that represents increases of 51% and 66%, respectively, versus full-year 2025.
For the second quarter, Vertiv guided to net sales of $3.25 billion to $3.45 billion, adjusted operating profit of $690 million to $730 million, and adjusted diluted EPS of $1.37 to $1.43. As a result of these announcements, the company's shares have moved -8.6% on the market, and are now trading at a price of $252.40. For the full picture, make sure to review Vertiv's 8-K report.
